The traditional grey correlation analysis does not consider the impact of different indicators . If the weight of each index is the same ,the results can not objectively reflect the importance of the va-rious indicators .In view of this defect ,this paper uses the entropy method as the index weighting method ,and uses the grey correlation analysis method as the main method to study the financing effi-ciency of enterprises of energy saving and environmental protection .In the paper ,the financing effi-ciency is defined as under the influence of national economic policy and industrial policy ,the role and effectiveness of financing strategy on whole enterprise operation and growth as well as the efficiency of the use of funds to create social value and economic value .The empirical results show that the inven-tory turnover rate ,the technical development strength and the debt financing cost have the greatest impact on the financing efficiency of energy saving and environmental protection industry .The finan-cing efficiency of solid waste utilization and sewage treatment enterprises is the highest ,and that of waste gas treatment and equipment manufacturing enterprises is the lowest .Finally ,the paper puts forward the basic ideas of optimizing the financing efficiency .%传统的灰色关联分析没有考虑不同指标的影响程度大小 ;各指标的权重相同 ,无法客观反映各个指标的重要性.针对这一缺陷 ,文章使用熵值法作为指标的赋权方法 ,以灰色关联分析法作为研究节能环保企业融资效率的主要方法.文中的融资效率的含义为在国家经济政策和产业政策的影响下 ,企业的融资策略对企业整体运行和成长产生的作用和功效以及资金使用创造社会价值和经济价值的效率.实证研究结果表明:存货周转速度、技术开发力度和债权融资成本对节能环保产业融资效率的影响最大 ;固体废物利用和污水处理类企业融资效率最高 ,废气处理和设备制造类企业融资效率最低.最后提出优化融资效率的基本思路.
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